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Lost at sea : the euro needs a Euro Treasury

Bibow, Jörg - 2013

of existing national public debts is involved. Instead, the Euro Treasury is established as a means to pool eurozone … public investment spending and have it funded by proper eurozone treasury securities. …

Persistent link: https://www.econbiz.de/10010204687

Effective European Monetary Union in the Light of the Optimum Currency Area; Model Countries : Germany and Poland Ergin Akalpler

Akalpler, Ergin - 2022

the Eurozone.Design/methodology/approach: In this study, Breusch–Pagan–Godfrey and Lagrange multiplier (LM) tests are used … research is used for estimating the effects of OCA in the Eurozone. Quantitative investigation is particularly focused on the … Eurozone and the application of a single currency throughout the EU was a considerably difficult task. In addition, the …

Persistent link: https://www.econbiz.de/10013307159

Act for Currency Unions

Stark-Veltel, Gerd - 2018

When real wages in an economy no longer reflect productivity, normally devaluations of the currency restore international price-competitiveness via imported inflation that reduces real wages. This instrument is not available in a currency union. The job has to be done by reductions in nominal...

Persistent link: https://www.econbiz.de/10012928858

The Eurozone : Piecemeal Approach to an Optimum Currency Area

Handler, Heinz - 2013

place. However, as actual developments in the Eurozone reveal, the political process of approaching an OCA is piecemeal …

Persistent link: https://www.econbiz.de/10013075363

Endogeneities of optimum currency areas: what brings countries sharing a single currency closer together?

De Grauwe, Paul; Mongelli, Francesco Paolo - 2005

This paper brings together several strands of the literature on the endogenous effects of monetary integration: i.e., whether sharing a single currency may set in motion forces bringing countries closer together. The start of EMU has spurred a new interest in this debate. Four areas are...

Persistent link: https://www.econbiz.de/10011604514

What effects is EMU having on the euro area and its member countries? An overview

Mongelli, Francesco Paolo; Vega, Juan Luis - 2006

This paper addresses the effects of the European Economic and Monetary Union (EMU) since the introduction of the euro -- on economic and financial structures, institutions and performance. What type of changes is the euro fostering? What forces is it setting in motion that were not there before?...

Persistent link: https://www.econbiz.de/10011604645

The "uncovered inflation rate parity" condition in a monetary union

Acocella, Nicola; Pasimeni, Paolo - 2018

The uncovered interest rate parity condition lies at the heart of the "impossible trinity", stating that the three objectives of fixed exchange rates, free capital flows, and independent monetary policy cannot be pursued simultaneously. We argue that although monetary unification does indeed...

Persistent link: https://www.econbiz.de/10011926988

Stability of monetary unions : lessons from the break-up of Czechoslovakia

Fidrmuc, Jan; Horváth, Július; Fidrmuc, Jarko - 1999

In 1993, Czechoslovakia experienced a two-step break-up. On January 1, the country disintegrated as a political union, while preserving an economic and monetary union. Then, the Czech-Slovak monetary union collapsed on February 8. This paper analyzes the economic background of the two break-ups...

Persistent link: https://www.econbiz.de/10010518146

The Euro-project at risk

Hankel, Wilhelm; Hauskrecht, Andreas; Stuart, Bryan - 2010

In contrast to Robert Mundell's Optimum Currency Area theory and his recommendation of forming a monetary union, the economic fundamentals of Euro area member countries have not harmonized. The opposite holds: the Euro core countries - most of all Germany, but also the Netherlands and Finland -...

Persistent link: https://www.econbiz.de/10008695492

OCA theory and EMU eastern enlargement : an empirical application

Weimann, Marco - 2002

Persistent link: https://www.econbiz.de/10001682919